Aston Martin: ‘Ultra luxury’ strategy pays off with revenues up 26 per cent and GT/Sports range ‘sold out’ March 1, 2023 Aston Martin has reported a full-year loss of £118m, growing from a loss of £74.3m year-on-year but ahead of consensus expectations for £135m. The luxury carmaker said capital expenditure was expected to increase year-on-year but that it would deliver significant growth in profitability this year and positive free cash flow in the second half. Aston [...]
Aston Martin to recruit over 100 people in UK to support new sports car plans January 19, 2023 Aston Martin has gone on a hiring spree, announcing today it’s seeking to recruit over 100 new positions at its Warwickshire headquarters. The luxury carmaker said the new technicians will be recruited to support the rollout of a new generation of ultra-luxury sports cars. These include a limited edition of the two-seater V12 Speedster as [...]
Aston Martin shares plunge 12.4 per cent following Jefferies downgrade November 15, 2022 Aston Martin’s shares today slumped as low as 12.4 per cent following Jefferies’ downgrade. Stocks seemed to have slightly recovered since this morning as they were 9.89 per cent down around 12.30pm. In an analyst note sent this morning, the US investment bank demoted the luxury car maker from ‘hold’ to ‘underperform’, while slashing the [...]
Aston Martin warns of higher costs as supply chain disruptions weigh on margins November 2, 2022 Aston Martin Lagonda Global has warned that higher costs from disrupted supply chains will weigh on margins, lowering its wholesale delivery volume forecast for the year. The London-listed company said that due to supply chain challenges and logistics disruptions wholesale volumes decreased by four per cent year-on-year to 4,060. Despite lower wholesale volumes, revenue jumped [...]
Aston Martin bags hefty investment from Saudi sovereign fund in £654m raise September 30, 2022 Aston Martin has bagged a major investment from Chinese carmaking giant Geely today in a £654m capital raise to bolster its books.
Former Aston Martin dealers file £150m lawsuit over Valkyrie underwriting September 14, 2022 A couple of ex Aston Martin dealers have launched a £150m lawsuit against the luxury car maker over the underwriting of the Valkyrie model. Switzerland-based Nebula Project AG filed a private arbitration case in London, as it argued that it was owed royalty payments worth 3 per cent, sources told the Financial Times. “We are [...]
Aston Martin launches £575m rights issue powered by Saudi Crown Prince MBS September 5, 2022 Luxury car maker Aston Martin confirmed this a.m. a £575m rights issue, which will be supported by a fund controlled by Saudi Arabia’s de facto leader. It told shareholders on Monday that it will launch the rights issue – a share offer to current investors intended to raise new cash – as part of a [...]
Britishvolt £3.8bn gigafactory to push back production until mid-2025 August 29, 2022 Electric vehicle battery startup Britishvolt will not deliver any products from its £3.8bn gigafactory for another three years, its co-founder has said today. The gigafactory, which began construction last summer, had initially been anticipated to start battery production in late 2023. “The main facility will be delayed slightly into mid-2025,” former CEO Orral Nadjari told [...]
Aston Martin’s profits drop as supply chain disruption scuppers deliveries July 29, 2022 Luxury sports car seller Aston Martin today said its losses had more than doubled due to the impact of supply chain disruption in the first half of 2022. Aston Martin said its sales volumes dropped eight per cent from 2,901 in the first half of 2021 to 2,676 in the first half of 2022. The [...]
Saudis now second-largest investor in Aston Martin as £653m raised to pay off debts July 15, 2022 Saudi sovereign wealth fund PIF has become the second-largest shareholder in UK luxury car maker Aston Martin, sending shares up 25 per cent. The fund, controlled by Saudi Crown Prince Mohammed bin Salman (MBS), will own a 16.7 per cent stake in the marquee. This will be behind the 18.3 per cent owned by Canadian [...]